San Joaquin Refining joined the group of naphthenic base oil producers who announced increases at the end of March. Most paraffinic producers had also implemented markups at that time, and no fresh initiatives surfaced this week. The steeper base oil prices and production costs triggered another round of downstream increases for lubricants, additives and other finished products.
San Joaquin informed its customers that the company would be raising the price of its naphthenic base oils by 15 to 40 cents per gallon, depending on product and location, effective April 13. The company explained that the adjustments were prompted by changing market conditions including heightened demand and short supply, as well as increased production costs.
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